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LG Profit Falls, TV Business Weighs

By

Min-Jeong Lee

Updated April 24, 2013 6:55 a.m. ET

SEOUL—LG Electronics Inc.'s first-quarter net profit slumped 91% from a year earlier, weighed by the lackluster performance of its television business, but the company predicted a better second quarter with the global rollout of its latest smartphone.

As the TV business continues to suffer from thin margins due to stiff competition, LG Electronics is betting on its mobile business to drive earnings growth in the coming quarters. The company plans to take a more aggressive approach this year on marketing spending and expand...